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HORACE TAYLOR TRUST
STATEMENT OF ACCOUNTS
FOR THE YEAR ENDED
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5 APRIL 2025
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HORACE TAYLOR TRUST
BALANCE SHEET
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YEAR ENDED 5 APRIL. 2025
2025 2024
Notes £ £
Restricted Capital Fund
Fixed assets
Freehold land and buildings 2 1,604,610 1,592,849
Current assets
Investment Fund - 146,647
Bank accounts 3 459,057 423,568
Debtors and prepayments 4 2,750 -
2,066,417 2,163,063
Unrestricted Income Fund
Current assets
Investment Fund 190,806 31,287
Bank accounts 3 1,256,497 1,318,193
Debtors and prepayments 4 125,020 $7,036
Current llabillties
Creditors and accruals § (15,051) (10,730)
Provision for liabilities 6 (62,400) -
1,494,872 1,405,786
Net current assets
Total net assets "3,561,289_ ~~ 3,568,849
Represented by: 7
Restricted capital fund ( page 2 } 2,066,417 2,163,063
Unrestricted income fund { page 2 } 1,494,872 1,405,786
3,561,289 3,568,840
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D.P. Atkinson, Chairman
Date: 30/01/2026
On behalf of the Board of Trustees
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HORACE TAYLOR TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2025
| ; | Restricted Capital Fund £ |
Unrestricted Income Fund £ |
TOTAL gE |
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| Balance broughtforward at 6 April2024 | 2,163,063 | 1,405,786 | 3,568,849 | |
| Net deficit fortheyear {page 3 ) | - | (13,995) | (13,995) | |
| 2,163,063 | 1,391,794 | 3,554,854 | ||
| Investment revaluation | Current year | - | 6,435 | 6,435 |
| Transfer | (96,646) | 96,646 | - | |
| Balance carried forward at 5April 2025 | _2,066,417 | 1,494,872 | 3,561,289 |
Note: the restricted capital fund is not distributable. The unrestricted income fund is distributable; see note 7 to the accounts.
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HORACE TAYLOR TRUST
UNRESTRICTED INCOME FUND INCOME & EXPENDITURE ACCOUNT
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|YEAR|ENDED|5 APRIL|2025|
|2025|2025|2024|2024|
|Notes|£|£|£|£|
|Income|
|Rental income|(page|13)|198,218|196,463|
|Investment|income|6,437|6,197|
|Bank|interest receivable|38,296|36,646|
|Wayleaves|-|687|
|Total|income|242,951|239,993|
|Expenditure|
|Management and administration|
|costs:|
|Property|expenses:|
|Repairs|and|redecorating|8|87,519|20,564|
|Dee,|Atkinson,|&|Harrison:|
|-Commission|on|rents|23,650|23,025|
|Legal|and|professional fees|4,343|2,400|
|Insurance|5,660|4,837|
|Electricity and|gas|760|1,742|
|Water|486|473|
|Council|Tax|722|94|
|Sundry|expenses|1,309|121|
|124,449|§3,256|
|Other management expenses|
|Accountancy|fees|2,458|2,170|
|126,907|~~|55,426|
|Donations|to|focal charities|9|130,039|.|106,880|
|Total expenditure|256,946|162,306—|
|Loss|on|disposal of asset|-|4,106|
|(Deficit)|/ Surplus|for the year|(13,995)|73,581|
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HORACE TAYLOR TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 5 APRIL 2025
1. Accounting pollcies
General
The financial statements have been prepared in accordance with the Charities Act 2006, and in accordance with generally accepted accounting standards and the Charitles Statement of Recommended Practice 2005. The financial statements have been prepared under the historical cost convention, with the exception of investment assets which are included at market value.
Depreciation
“No depreciation has been provided on the freehold land and buildings heldby the Trust. The propertiesare expected to retainor increase their value over time.
2, Freehold land and buildings
“The Trust holdsthe following properties which are managedto raise rental income and income from the sale of timber. All. assets are disclosed at cost with the exception of those acquired prior to 11 October 1982 which are disclosed In accordance with their valuation as at that date.
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|2025|2024|
|£|£|
|46|Middle|Street|North,|Driffield|- shop|and|flats|99,344|99,344|
|46|Middle|Street|North,|Driffield|- Wesley|Court|400,454|400,454|:|
|499,798|499,798|
|Acreage|
|2025|2024|
|Pleasant Wood|Farm,|Wansford|{2}|50.83|50.83|73,115|73,115|
|Pleasant Wood|Farm,|Wansford|{1}|61,00|61,00|46,800|46,800|
|Lair|Hill|Farm,|Middleton-on-the-Wolds|182.75|182.75|537,026|525,264|
|Beacon|Farm,|Flamborough|100.53|100.53|72,655|72,655|
|High|Warrendale|Farm,|Kilnwick|Percy|217.22|217,22|204,063|204,063|
|Low Warrendale|Farm,|Kilnwick|Percy|158.88|158.88|116,000|116,000|
|Grass & arable|land|at Burnby|Lane,|Pocklington|16.50|46.50|46,153|15,153|
|Woodlands,|Warter,|Burnby|Lane,|and|88.67|88.67|40,000|40,000|
|Middleton|—_—————___|
|876.38|||876.38]|1,104,812|1,093,051|
|Restricted|capital fund|“1,604,670|~~4,592,849|
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HORACE TAYLOR TRUST
NOTES TO THE ACCOUNTS
| . | NOTES TO THE ACCOUNTSTO THE ACCOUNTSTHE ACCOUNTSACCOUNTS | ||||
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| YEAR ENDED 5APRIL 2025 | |||||
| 3. Bankaccounts | 2025 | 2024 | |||
| £ | £ | ||||
| LloydsTSB ~CurrentAccount | 285,007 | 349,510 | |||
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Yorkshire Building Society - Registered Charity DepositAccount Barclays Bank -Premium NoticeAccount |
1,032,557 397,990 |
1,000,080 392,171 |
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| : | 1,715,554 | 1,741,761 | |||
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Restricted capitalfund Unrestricted incomefund |
459,057 1,256,497 71,715,554 |
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| : | 4,Debtors | 2025 £ |
£ | 2024 £ £ |
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| 2 Rental income due 119,602 56,633 7 Sateofland atFlamborough 5,375 5,375 Prepayments &accrued income 43 §,028 Otherdebtors 2,750 - |
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| 127,770 | 67,036 | ||||
| : | Restricted capitalfund Unrestricted incomefund |
2,750 125,020 |
- 67,036 |
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| 7 | 127,770 | 67,036 | |||
| 7 | 5. Creditors | 2025 | 2024 | ||
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Trade creditors Accruals |
- §83 14,468 45,051 |
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| Restricted capitalfund Unrestricted incomefund |
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HORACE TAYLOR TRUST NOTES TO THE ACCOUNTS
YEAR ENDED 5 APRIL 2025
6. Provision for liabilities
Property repairs at High Warrendale Farm
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62,400
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The provision relates to the contractual obligation to maintain and repair buildings of properties owned & managed by the trust, and is measured at the present value of the expenditure expected to be required to setttle the obligation.
The provision is expected to be utilised in the accounts to 5 April 2026.
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|:|7.|Funds|
|/|The Trust|was|set|up by|the|will of Horace Taylor|who|died|on|3 September 1974, The Restricted Capital fund comprises|of property|
|?|(note 2) and the proceeds of sale of property,|andis|not available for distribution.|
|||The|Unrestricted|Income Fundis|anaccumulating income fund|availablefor local charitable purposes.|Itincludesthe|Codicil Fund which|
|7|was|previously shown|separately|within|the|accounts.|
|||8,|Property expenses|-|repairs and|redecorating|2025|2024|
||46|Middle|Street|North|14,081|15,539|
|7|Lair|Hill|Farm|7,830|96|
|:|Pleasant Wood|Farm|3,408|1,361|
|High|Warrendale|Farm|62,400|2,668|
|;|Arable|Land,|Burnby|Lane|-|900|
|87,519|20,564|
|:|9.|Donations|to|local|charities|2025|2024|
|£|£|
|:|2nd|Driffield|Cub|Scouts|1,750|2,000|
|All|Saints|Church,|Driffield|20,120|14,597|
|Beeford|Bowling|Club|500|-|
|Bursaries|3,750|3,750|
|Cardiac|Risk|in|the Young|-|7,500|
|East|Riding|Domestic Abuse|Trust|-|210|
|Driffield|&|Hornsea|Methodist|Circuit|1,000|1,000|
|Driffield|& Wolds|Create|Community|500|-|
|Driffield|& Wolds|Mental|Health|Social|Group|-|700|
|Driffield|Afternoon|Womens|Institute|-|500|
|Driffield|Agricultural|Society|17,000|10,500|
|Driffield|Childrens|Outing|Fund|500|-|
|Driffield|Cross|Hill|Infant|School|450|400|
|Driffield|Junior|Football|Club|10,000|-|
|Driffield|Lawn|Tennis|Club|2,710|
|Driffiald|Mate|Voite|Choir|1,000|“|
|Driffield|Men|in|Sheds|-|1,322|
|Driffield|Methodist|Lay Worker|15,000|-|
|Driffield|Methodist|Play Group|-|1,500|
|Driffield|Mitlennium|Green|2,000|-|
|Driffield|Rifle|Club|-|1,485|
|Driffield|Roman|Catholic|Church|>|§,000|
|Driffield|Salvation Army|-|570|
|Driffield|Town|Cricket|Club|>|13,000|
|Driffield|Ukulele|Band|-|3,000|
|Driffield|Youth|Action|3,000|-|
|First|Steps|Pre Schoo|-|1,375|
|||Friends|of|Driffield|Beck|-|-|
|Hutton|Cranswick|Bowls|Club|1,000_|-|
|:|Carried forward|80,280|68,409|
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HORACE TAYLOR TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 5 APRIL 2025
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| 9. Donatlons to local charities continued | 9. Donatlons to local charities continued | 2025 | 2024 |
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| £ | £ | ||
| Broughtforward | 80,280 | 68,409 | |
| HuttonCranswick MethodistChurch | 10,000 | - | |
| Hutton Cranswick ScoutGroup | 450 | - | |
| Hutton Cranswick Sports & Recreation | Association | 3,000 | - |
| Kilham Playing Field | 5,000 | 4,500 | |
| Kings Mill School | - | 4,006 | |
| Lave Driffield | - | 2,500 | |
| Nafferton Primary School | - | 1,500 | |
| Nafferton ScoutGroup | (See note on page 12} | {1,000) | 500 |
| NewHope Church | - | 4,800 | |
| OurLady & St Edward Catholic Church | of Driffield | §,000 | : |
| Spiers Bank House Trust | 3,409 | - | |
| St Catherine's Hospice | 15,000 | 1,000 | |
| St Marys Church, Fridaythorpe | 4,000 | : | |
| St Marys Church, Kirburn | (See note on page 12) | (2,000) | 2,000 |
| St Marys Church, Little Driffietd | - | . | |
| St Marys Church, Sledmere | - | 10,000 | |
| StMarys Church, Watton | - | 4,000 | |
| St Peters Chruch, Hutton | 2,500 | - | |
| St Peters Chruch, Langtoft | 1,300 | 9,665 | |
| The Middle Age Singers | 600 | : | |
| Wolds & Coastal District Scouts | 2,500 | “ | |
| 130,039 | 106,880 |
40. Trustees
The following served as Trustees throughout the year unless otherwise indicated:
Mr, D. E. Lundy
Mr. D. P. Atkinson Mr. P. W. Bradbury
Mr. R. Weekes
Mr. E. R. Shepherdson Reverend S Grant Reverend R Teal Retired 31/08/2024 Ms 8S. Mellor Reverend P Barnett Appointed 01/09/2024
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: INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HORACE TAYLOR TRUST | We raport on the accounts of the Trust for the year ending 5 April 2025, which are set out on pages 1 to 7. : Respective responsibilities of trustees and examiner | The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities . Act 2011. The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is required. 7 It is our responsibility to: : * examine the accounts under Section 145 of the 2011 Act, : * to follow the procedures aid down in the General Directions given by the Charity Commission under 7 Section 145{5)(b) of the 2011 Act, and : + to state whether particular matters have come to our attention. : Basis of independent examiner's report | Our examination was undertaken examination was undertaken was undertaken undertaken in accordance with the the General Directions given by the the Charity Commission. | An examination Includes a review of the review of the of the the accounting records kept by the by the the charity, and a comparison comparison of the accounts the accounts accounts | presented with those records.
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Our examination was undertaken examination was undertaken was undertaken undertaken in accordance with the the General Directions given by the the Charity Commission. An examination Includes a review of the review of the of the the accounting records kept by the by the the charity, and a comparison comparison of the accounts the accounts accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as trustees concerning such matiers.
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The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is givan as to whether the accounts present a true and fair view, and the report is limited to those matters set out in the next statement,
independent examiner's statement
In connection with our examination, no material matters have come to our attention:
1} which gives us reasonable cause to believe that in any materiat respect the requirements: i. to keep accounting records ins accordance with Section 130 of the 2011 Act, and ii. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met, or
2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jackson Robson Licence Limited Chartered Accountants 33-35 Exchange Street Driffield YO25 6LL
Date: 02/02/2026
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Horace Taylor Trust
Annual Report for the Year Ending 5* April 2025
The statement of accounts show the current financial position of the Trust. The balance sheet shows a historical valuation of the properties, which are presently undervalued.
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Compared to the previous year, the Trust rental income was slightly higher with a significant contribution to funds from bank interest which contributed to an increase in the unrestricted fund within the Balance Sheet. There was a notable increase in the level of Charitable Donations.
The six residential apartments at Wesley Court continue to be offered on charitable terms to residents of Driffield and the surrounding area. The occupation has again been successful with 100% occupation during the reporting period.
The ground floor commercial unit at 46 Middie Street North continues to be occupied as a hairdressing salon with ancillary use.
The four flats at the same property have been rented successfully throughout the year.
At Lairhill Farm, Middleton, the house continues to be let and the process of converting the redundant brick and tiled buildings to residential use started in September 2024. Despite the planning permission being approved there is no progress to convert the traditional farm buildings at Pleasant Wood Farm, Wansford where the house continues to be let successfully. The farm land at Wansford continues to be considered for part of an energy scheme. At High Warrendale Farm and Low Warrendale Farm there is nothing significant to report for the year. A new Tenant took the Tenancy of the farm land at Flamborough from October 2024.
The Trustees continue to review their investment strategy and decided that cash deposits held at the bank remain the correct policy to undertake during the economic conditions and pending the development costs of converting the farm buildings into residential use. The Trustees have continued with their medium risk investment with the portfolio of shareholdings managed by stockbrokers. |
The cash balances have once again been invested with a number of different banks/building societies for strategic security reasons. The Trustees decided to retain their property investments and also expressed interest in considering the purchase of suitable property to add to their portfolio if the opportunity should arise.
The Trustees continue to have a close affiliation with Driffield Kings Mill Special Schoo!. The Trustees have continued to provide financial assistance to local charities, churches, schools and recreational clubs within the administrative area of the Trust. They have also granted educational bursaries to school leavers awaiting their first year at University. A website for the Trust has been successfully developed.
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During the year the Reverend R Teal retired as a Trustee and was replaced by the Reverend Peter Barnett.
Date: 28" January 2026